Catalyst Pharmaceuticals Inc (NASDAQ:CPRX)’s share price rose 6.6% on Friday . The company traded as high as $3.39 and last traded at $3.39. Approximately 2,287,100 shares changed hands during trading, an increase of 207% from the average daily volume of 743,981 shares. The stock had previously closed at $3.18.
CPRX has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Catalyst Pharmaceuticals in a research report on Thursday, March 15th. ValuEngine raised Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, May 14th. Finally, BidaskClub raised Catalyst Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $6.25.
The stock has a market cap of $326.26 million, a P/E ratio of -16.14 and a beta of 1.57.
Catalyst Pharmaceuticals (NASDAQ:CPRX) last released its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). equities research analysts predict that Catalyst Pharmaceuticals Inc will post -0.34 EPS for the current fiscal year.
In related news, insider Patrick J. Mcenany purchased 20,000 shares of the stock in a transaction that occurred on Tuesday, April 3rd. The stock was acquired at an average cost of $2.29 per share, with a total value of $45,800.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 49,000 shares of company stock valued at $152,740 over the last three months. 9.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gables Capital Management Inc. purchased a new stake in Catalyst Pharmaceuticals in the 1st quarter valued at $1,097,000. California State Teachers Retirement System raised its position in Catalyst Pharmaceuticals by 18.2% in the 1st quarter. California State Teachers Retirement System now owns 133,262 shares of the biopharmaceutical company’s stock valued at $318,000 after buying an additional 20,484 shares during the last quarter. venBio Select Advisor LLC raised its position in Catalyst Pharmaceuticals by 20.6% in the 1st quarter. venBio Select Advisor LLC now owns 4,692,343 shares of the biopharmaceutical company’s stock valued at $11,215,000 after buying an additional 800,000 shares during the last quarter. Sofinnova Ventures Inc purchased a new stake in Catalyst Pharmaceuticals in the 1st quarter valued at $354,000. Finally, Knott David M raised its position in Catalyst Pharmaceuticals by 28.5% in the 1st quarter. Knott David M now owns 488,575 shares of the biopharmaceutical company’s stock valued at $1,168,000 after buying an additional 108,465 shares during the last quarter. 53.33% of the stock is owned by institutional investors and hedge funds.
Catalyst Pharmaceuticals Company Profile
Catalyst Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases. Its product candidates include Firdapse, a proprietary form of amifampridine phosphate that has completed Phase III clinical trials for the treatment of patients with lambert-eaton myasthenic syndrome; is in Phase III clinical trial to treat congenital myasthenic syndromes; and is in Phase III clinical trial for the treatment of anti-MuSK antibody positive myasthenia gravis, as well as is in Phase II clinical trial for patients with spinal muscular atrophy type 3.
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